About Us

Welcome to Levy, Levy & Levy’s website. Levy, Levy & Levy is known as a leader in the area of affordable housing and real estate finance. We have been involved with virtually all significant federal, state, for profit and not-for-profit housing and redevelopment programs over the last three decades. Our attorneys provide comprehensive legal services for all aspects of affordable and conventional multifamily and health care financing, acquisition, development, sales, management and operation. In order to be deal-makers, Levy, Levy & Levy understands that the successful culmination of each project requires creative and pragmatic solutions to the many obstacles that arise in real estate transactions. We combine our technical knowledge of the law to achieve practical, timely, efficient and cost effective results and solutions for our clients. We have developed a deep understanding of our clients' real estate needs, and focus our attention on the issues they face. Our lawyers stay informed of the changing nature of the real estate industry and think as business people. We look forward to assisting you.

Who We Are?
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    Mark Levy has been practicing in the area of multifamily housing and health care projects for 24 years. Mark specializes in representing lenders and owners in the financing, construction, acquisition, refinancing and transfer of multifamily housing projects utilizing HUD, Fannie Mae, Freddie Mac, CalHFA, Conventional Financing and Conduit loan programs (including tax credit enhancements and bond […]

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    Larry Levy received his B.A. in Political Science at the University of California in Davis(1978) and graduated Whittier Law School with a JD/MBA in 1984. From 1979-1983, Larry worked at Citicorp and ARCS as a mortgage banker. Larry holds a Real Estate License, which he still maintains. Larry is admitted to practice in all California state […]

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    Paul A. Renno has been practicing in the development and financing of affordable housing and health care projects for over 27 years. Most recently, Paul served as the Chief Operating Officer and Senior Counsel for PNC MultiFamily Finance, Inc. (“PNC”). Prior to PNC’s acquisition of TRI Capital Corporation (“TRI”), Paul served as TRI’s General Counsel for […]

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    Christina Howard works as a legal assistant with the attorneys and clients of the firm to complete loan closings and real estate transactions with owners and lenders. She coordinates the flow of documents and facilitates communication between parties involved in transactions and tracks issues related to the transaction to ensure timely and thorough transactional closings.  Mrs. […]

  • Patricia Sayerwin works with the attorneys and clients of the firm to complete loan closings and real estate transactions with owners and lenders.  Mrs. Sayerwin has been with the firm since September 1971.  She was educated in England and graduated from Scarborough Technical College, Scarborough, Yorkshire, England.  Prior to her employment with Levy, Levy & Levy, […]

  • Marie Geraldi  joined the law firm of Levy, Levy & Levy in 1997. Mrs. Geraldi was previously employed by the Small Business Administration, Bureau of Customs and Meridian Commercial, Inc. In addition, Mrs. Geraldi has owned her own company. Mrs. Geraldi has a total of 19 years secretarial experience. mgeraldi@levylevy.com

Our Firm

The firm members specialize in representing project owners and lenders in the nationwide financing of the construction, acquisition, refinance and transfer of multifamily housing and health care projects utilizing conventional financing, HUD, Fannie Mae, Freddie Mac, CalHFA, conduit loan programs, tax credit enhancements and bond financing by local housing authorities, cities, counties and state agencies. The firm also has substantial experience working on troubled projects and loan workout issues, as well as representing project owners in disputes with HUD and CalFHA.

We have handled financing and acquisition transactions in most segments of the real estate industry, including multi-family developments, health care facilities, raw land, industrial sites, residential condominiums, office buildings, community developments, shopping centers, and regional and local malls. The firm has substantial experience in development, financing and acquisition of real property, commercial transactions, business law, and the formation of and advising ownership entities. We represent a broad range of clients, from publicly traded companies to small entrepreneurial entities, on transactions both in California and throughout the United States. The firm has been approved as a consultant for non-profit HUD Section 811 and 202 projects and has represented nonprofit and tax credit developers under the existing tax credit programs throughout the country. As an example of our involvement in housing, the firm was involved in shaping the federal legislation under the Low Income Housing Preservation Resident Homeownership Act (LIHPRHA) and federal legislation that offered tenant based enhanced vouchers to the elderly and provided owners with market rate rent increases. Members of the firm have been featured as speakers at conferences held by HUD Lenders, the American Bar Association (ABA), and the National Association of Housing Management Agents (NAHMA).  We are committed to providing legal services of the highest quality to our clients. In this endeavor, we are strengthened by experienced, able attorneys, excellent support staff and the advantages of the most up-to-date technological equipment.
Areas of Practice
 

HUD/FHA multifamily loans insured under all applicable sections of the National Housing Act

HUD-FHA Programs. Our extensive HUD practice includes representing owners and lenders in all types of HUD loan closings, and providing representation in connection with Transfers of Physical Assets (TPAs), HUD's Mark-to-Market (Mortgage Restructuring) OAHP Program involving the restructuring of Section 8 assisted properties, HUD's Section 236 "decoupling program", project based section 8 programs and transferring project based Section 8 contracts to a new site, and HUD's Section 202 prepayment and repositioning initiatives.  We represent owners of eligible low-income housing in connection with the recapitalization, refinance, or sale of projects pursuant to the Emergency Low-Income Housing Preservation Act of 1987 or the Low-Income Housing Preservation and Resident Homeownership Act of 1990. We have extensive experience in HUD administrative enforcement matters, including Form 2530 Previous Participation Clearance issues, adverse project physical inspections and management reviews, Abatement of Section 8 contracts, Lead-based paint compliance, HUD Inspector General Audits and Investigations and Real Estate Assessment Center matters.

Representing local, regional and national non-profit developers, lenders and intermediaries in connection with acquisition, development, management and financing of both market rate housing projects and affordable housing projects

Real Estate Transactions and Real Estate Finance. We represent developers and owners in connection with the sale, acquisition, development, and financing of all types of real estate properties, including commercial, residential and industrial developments, and with the purchase and sale of parcels of land, and have represented clients in all forms of commercial and residential leasing activity. We have also have represented both developers and financial institutions involved with the development and acquisition of health care facilities. We perform the requisite legal work for traditional construction, permanent, and acquisition mortgage loans, as well as more specialized real estate financing transactions, such as leasehold mortgage loans, mortgage warehouse facilities, conduit loans, securitized loans, and sale-leasebacks. Our attorneys have extensive experience representing both borrowers and lenders.

Tax-exempt bonds for housing and community development

Bond and Tax Credit Transactions. We have extensive experience in connection with transactions involving multifamily housing revenue bonds, Low Income Housing Tax Credits and Historic Tax Credits, including transactions which also involve the use of both taxable and tax exempt financing, HOME funds, local or state housing funds, and/or which are subject to a subsidy-layering review by HUD or a state housing finance agency. We help structure the financing, close the acquisition, and issue the necessary opinions to the Issuer, Underwriter, Lender and Trustee.

Formation and Advising Business Entities.

Formation and Operation of Business Entities. We assist clients in selecting and preparing the proper legal vehicle for real estate projects and investments, such as co-tenancies, joint ventures, general and limited partnerships, limited liability companies, corporations, and trusts, in order to provide the best opportunity for financial profitability, and to accommodate the particular needs of each particular client. We also counsel entities regarding operating issues once the entities are formed.

Fannie Mae and Freddie Mac multifamily loan and investment programs

Fannie Mae and  Freddie Mac. We are involved with the closing, refinancing, assumption and workout of loans originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) and Prior Approval programs, both cash and MBS product lines, and are familiar with the range of Freddie Mac’s multifamily mortgage programs.

HUD’s Section 8 rental assistance programs

State and County Housing Programs. Our practice extends beyond the federal arena to encompass state and local housing programs. We have particular experience with the various housing finance agencies in California, and have represented clients in connections with transactions involving City and County Housing Agencies, Redevelopment Agencies, the California Housing Finance Agency, the California Tax Credit Allocation Committee, the California Debt Limitation Allocation Committee, and the California Department of Housing and Community Development..

State and local housing programs (such as the California Housing Finance Agency, the California Tax Credit Allocation Committee, the California Debt Limitation Allocation Committee, and the California Department of Housing and Community Development)

Nonprofit Housing Providers. We have assisted in the formation of nonprofit entities and represented nonprofits in their acquisition, management, and financing of projects, including transactions involving joint ventures with private entities and the HUD preservation programs. We have represented Nonprofits who desire to prepay their HUD insured loans in order to recapitalize and rehabilitate the property through Bonds and Tax Credits, most recently involving a LIHPRHA property with a 50 year Use Agreement.

Representing owners, lenders, and property management companies in connection with the submission and negotiation of workouts of defaulted loans, HUD Transfers of Physical Assets (TPAs), partial and full payment of FHA insurance claims and mortgage reinstatements

HUD Litigation. We represents housing clients facing nearly every type of administrative proceeding such as HUD limited denials of participation (LDP), suspensions and debarments, management terminations, audits and investigations by HUD’s Office of Inspector General and actions brought by the Justice Department and/or United States Attorneys, and have represented owners in connection with actions against the United States under the LIHPRHA program for a breach of contract in not permitting the prepayment of their mortgage notes after 20 years. We also counsel clients on policies and compliance issues relating to claims under the Fair Housing Act, the Rehabilitation Act, the Americans with Disabilities Act, and state and local fair housing laws.

Representing parties facing administrative and civil actions by HUD and the Justice Department and counseling clients on housing policies, compliance issues, and claims under the Fair Housing Act, the Rehabilitation Act, the Americans with Disabilities Act, and state and local fair housing laws

A transaction representative of the firm’s ability and experience in affordable finance development on a large scale involved our recently completed engagement in Los Angeles, California, whereby the firm acted as developer’s counsel in obtaining funding through a combination of a HUD-insured loan with FHA-insured and uninsured tax-exempt revenue bonds issued by the City of Los Angeles overlaid with a Ginnie Mae guarantee, limited partner equity investment, low income housing tax credits, subordinate debt financing provided by  private entities, and a property tax abatement.
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